All Forum Posts by: Jon Martin
Jon Martin has started 36 posts and replied 1074 times.
Post: How to gain weekday bookings in Sedona
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Awesome thank you @Sarah Kensinger
I didn't like the idea of having to explain in the listing which bed/bath is open/locked, have them not read the obvious "fine" print, then complain that it's not what the expected. Having 2 listings makes much more sense because that way they see exactly what they are getting for the discounted price.
Post: How to gain weekday bookings in Sedona
- Posts 1,085
- Votes 956
Quote from @Sarah Kensinger:
How big is the home, could you break it down into a smaller listing during the week and then the entire home on the weekends?
I've thought about this . .. . Do hosts usually have multiple listings for the same property but with different bedroom counts? I've thought about locking off a bed/bath and having a budget option with a lower ADR and/or cleaning fee, but wasn't sure if it was better to do a separate listing or set different pricing per person in the same listing. I guess the problem with the latter is the guests could feel misled if they don't read the fine print and are expecting access to the whole house.
Post: How to gain weekday bookings in Sedona
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Could be the season. AirDna shows August as the slowest month for Sedona. Kids are going back to school and most people got their summer vacation fix already. Combine that with being a newer listing with a low review count, which could make it tougher to compete with established listings that are also vacant mid week.
That said I agree with the above about lowering the weekday rate. I wouldn't set a minimum greater than 2 nights right now because you are still early in the game and need to build your review base. Once you get the ball rolling you can set longer minimum stays.
Post: Word from the Smokies: The patient isn't dead, but...
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- Votes 956
Quote from @Collin Hays:
Makes sense. 4% on a $600k+ property is still a hefty payment and requires a higher ADR to pay the bills.
Post: STR near Ann Arbor Michigan
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- Votes 956
I grew up there. STR regs are tough in the city limits. In normal inventory times you could look for a place just outside the city limits and likely do okay and still be close to downtown but it is tight right now. Might be a better MTR market within city limits.
In general, the northern half of town is nicer than the southern half, especially as you move east. SW to Center West is fine, but would avoid the SE corner altogether. Feel free to DM me about specific parts of town.
Post: Some small takeaways after a month of STR throughout Europe
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- Votes 956
Quote from @John Underwood:
Great information thanks for sharing.
Really interesting about how you had more towels than needed but they still all got used.
Kinda like how the amount of time it takes to complete a task expands with the due date, aka "Parkinson's Law".
Similar to when you bring a 24 pack of clothes hangers home thinking that you will always have enough hangers from here on out, only to find yourself looking for a hanger 2-3 weeks later because more of your wife's clothes found there way onto them.
I just stayed at an STR in San Diego County. Place had a killer 360 degree mountain view (basically a guest house for a much larger home) which made up for other aspects of it being fairly average. Main thing I found myself wanting was better cooking/eating utensils. Most STRs I've stayed in have very lackluster utensils that seem like hand me downs or thrift store stuff.
All great feedback above, thanks for posting!
Post: Hack to managing Airbnbs remotely!
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- Votes 956
Costco delivery for bulk items: TP, PTs, dish/laundry tabs, microwave popcorn, dish soap. IIRC if it's 2 day delivery you don't pay an upcharge, or at least it's less than same day.
Target home delivery for emergency items because I already have the subscription for personal use. However it seems like there are numerous options for that nowadays.
Post: Are 10% Down loans still a good idea?
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- Votes 956
If that's what it says in your rider then yes, I would adhere to that. Mine is very similar but does not have that specific line.
Post: Are 10% Down loans still a good idea?
- Posts 1,085
- Votes 956
Quote from @Robin Simon:
not the time to be overleveraging (and if you are using the 2nd home loan to finance a STR for cash flow then you are likely breaking rules due to the restrictions on use that come with it - >180 days rented, no management, etc.)
Doesn't this depend on what exactly is written into the 2nd home rider in the loan paperwork? I have a 10% down loan and all that there is no clear rule about how much personal use is required, only that it's "some of the time". Which a lawyer could argue is 1-3 days a year.
I think a lot of the confusion in general is conflation with what is considered a rental vs a personal use 2nd home for taxation purposes. Not saying that your post is that, but I see a lot of that in general.
Post: Quality vs Price when deciding on short term rental furniture and furnishings?
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- Votes 956
No worries @Michael Baum I didn't take it that way. I'm a big fan of used furniture as well, sitting on a leather couch I bought used more than 10 years ago. Same goes for my favorite coffee table. If you have the time to source it used then I'm all for it so long as it doesn't look cheap and pieced together.